1. Field of the Invention
The invention generally relates to MICR documents and, in particular, to a method for tracking the source of the MICR encoded documents.
2. Description of Related Art
Magnetic ink character recognition (MICR) codes are commonly used on financial documents such as checks, loan coupons, travelers checks, bonds and the like. The MICR codes are printed on the checks by various methods. Currently, the majority of the checks printed are done on litho or offset presses with liquid ink which has iron oxide mixed into it. The usage for these checks is predominantly checkbooks, preauthorized payment checks, and travelers checks, along with other applications like payroll checks. Within the last few years, however, there has been a growing trend in the use of computer-driven impact and nonimpact continuous form and page printers to print the MICR codes, as well as other data on checks and financial documents. Although not limited to these computer-driven printers, it is mainly in this area that this invention will be used. Impact printers mostly use a carbon film ribbon with iron oxide mixed in it to print with. Nonimpact page and continuous form printers use toner or thermal ribbon with iron oxide mixed in it to print MICR codes. When the MICR codes are read utilizing a magnetic character reader, the iron oxide (ferrite) is magnetized. When the code is passed by a read head, a magnetic wave form or signature is produced which identifies the particular code being read. The MICR codes facilitate automatic reading and processing of the documents by automatic readers. Such readers can read up to 100,000 documents per hour. The font of the MICR codes is controlled by standards which cannot be deviated from.
Occasionally, automatic MICR readers have difficulty reading the MICR code of a particular document. Most often, the rejected document has been produced on a nonimpact printer which is either out of adjustment or is using a poorly designed or programmed MICR font. Unfortunately, conventional MICR documents include little or no information allowing one to determine the source of the MICR code placed on the document to thereby allow the defective MICR printer to be identified and corrected. The conventional MICR encoded documents may provide some information regarding the bank or other business organization which initially authorized the document. However, such information is frequently insufficient to quickly and accurately determine the actual source that printed the MICR code on the document. This problem becomes particularly intractable where the issuing bank or other business organization may have contracted any of a number of document printing companies to print the documents. Furthermore, it has become feasible to print MICR documents using a laser printer supplied with magnetic ink toner, rather than using a conventional dedicated MICR printer. MICR documents printed with such laser printers have a fairly high incidence of subsequent processing errors.
Occasionally, fraudulent financial documents are created by persons using NIP (nonimpact) printers without proper authorization, or using stolen font cards, soft fonts, or MICR printers. Currently, no convenient method is available for determining whether any particular MICR document was printed by a stolen MICR printer or printed using a stolen MICR character font card or MICR character font. The ability to make such a determination would greatly facilitate the identification of counterfeit or unauthorized MICR documents. Because of the worldwide standards governing the MICR codes, no other indicia or marks of any kind have been imbedded in the MICR cell, as the MICR reader would attempt to read it if it were in the clear band and it would result in a reject. However, the subject invention assures that any marks, codes, etc., would be printed out of the clear band and would not affect the document readability.